The United States is in a heated commercial space race with China, and early indications show that we are losing—and South Floridians, like the rest of the country, should take note. The impacts on key sectors including technology, education, health care and the business community in general, not to mention our global leadership positioning, will be significant unless we all work together to raise awareness and encourage our leaders to take the right steps before it's too late. Following are some lessons learned and practical guidance, based on our experience in the booming global space economy, which is expected to reach $3 trillion by 2040.